2024 Max 401k Deduction 2024. If you’re looking to max out your retirement savings, you’ll be happy to hear that the contribution limits have been bumped up by $500 for most retirement savings. The 401 (k) contribution limit for 2024 is $23,000.

In 2024, irs increases to max 401 (k) and ira contributions make it feasible to put more money in your savings. The contribution limit will increase from $22,500 in 2023 to $23,000.